Your mortgage may be the largest loan you will ever carry. The sheer size of the loan makes it imperative to get the best deal you can find, but there is a bewildering array of options to choose from.
What type of rate structure suits your needs? Which lender will offer you the best terms? What time frame works best for you? How should the payments be structured? What is the lowest rate you can qualify for?
These are all important questions to consider. Investigating the right answers to all of them could cost you hundreds of hours. But making the wrong choice can cost you more money than you would believe.
All the options to explore and factors to consider leave borrowers with three choices:
A. Pick a single lender (usually their bank) and hope for the best.
B. Make finding the right mortgage a full time occupation.
C. Employ an experienced, capable mortgage broker to ensure you get the best deal possible.
Far too many people pick “A,” but for practically everyone, the best choice is “C.”
The lender you know may not offer the best rates. Or they might offer low rates but a poor loan structure for your needs. The wrong mortgage for your situation, even with a seemingly low interest rate, can wind up costing you more money in the long run.
Find a mortgage broker who possesses the expertise to evaluate your individual circumstances in order to help you select the mortgage that best fits your needs. Plus, they have the contacts to shop around among multiple lenders to find you the absolute lowest rates.
Choose a broker with the skill and experience to guide you through the mortgage maze straight to closing.